From the following transactions, prepare Cash Book with Cash and Bank Columns: Cash in hand ₹ 4,800 Bank Overdraft ₹ 30,400
From the following transactions, prepare Cash Book with Cash and Bank Columns:-
[Ans. Cash Balance (Dr.) ₹ 5,000; Bank Overdraft ₹ 11,425; Excess Cash deposited into Bank on 31st May ₹ 7,500.]
Solution:-
| 2024 | ₹ | |
| May 1 | Cash in hand Bank Overdraft | 4,800 30,400 |
| 2 | Fresh Capital introduced | 20,000 |
| 3 | Deposited into Bank | 15,000 |
| 4 | Sold goods to Mahesh on Credit | 6,200 |
| 5 | An amount of ₹ 4,200 due from Ashok written off as bad debts in the previous year, now recovered. | |
| 6 | Withdrew from bank for the payment of Life Insurance Premium | 3,000 |
| 8 | Received a cheque from Mahesh for ₹ 6,000 in full settlement of his account and deposited the same into the Bank. | |
| 10 | Sold goods to Varun on Credit. | 30,000 |
| 12 | Received a cheque for ₹ 28,000 from Varun in full settlement. | |
| 15 | Cheque received from Varun sent to Bank | |
| 18 | Varun’s cheque returned by Bank dishonoured. Bank charged ₹ 25 on this cheque | |
| 20 | Received a cheque of ₹ 6,800 from Vijay which was endoresed to Amrit Raj on 23rd May. | |
| 25 | Withdrew cash from Bank ₹ 5,000 for paying gift to his daughter on her birthday. | |
| 26 | Bought goods from Gupta General Store for ₹ 10,000 on credit and they allowed us trade discount of 25% | |
| 28 | Paid to Gupta General Stores in cash in full settlement | 7,000 |
| 28 | Sale of old machinery, payment received in cash ₹ 7,700 | |
| 30 | Paid Salary by cheque ₹ 1,500. Paid Rent in cash ₹ 2,200 | |
| 31 | Paid into Current Account the entire balance after retaining ₹ 5,000 at office. |
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